Guideline Value for Venkatachalapathy Street

Venkatachalapathy Street guideline value

The current guideline value of Venkatachalapathy Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Venkatachalapathy Street has changed

The guideline value for Venkatachalapathy Street has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows an increase of 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, which means that Venkatachalapathy Street's 2024 figure is below this median.

• Venkatarama Iyer Street: Rs 1,900 per sq.ft (2024)
• Venkataraman Street: Rs 1,900 per sq.ft (2024)
• Venkat Avenue 1st Street: Rs 1,300 per sq.ft (2024)
• Venkat Avenue 2nd Street: Rs 1,300 per sq.ft (2024)
• Velacherry Main Road: Rs 4,250 per sq.ft (2024)
• Venugopal Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total Rs 1,17,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatachalapathy Street?

The Sub Registrar Office that covers Venkatachalapathy Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Rajakilpakkam

The guideline value is a key factor in property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatachalapathy Street?

The current guideline value of Venkatachalapathy Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Venkatachalapathy Street?

The land classification for Venkatachalapathy Street is Residential Class II Type - II.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Venkatachalapathy Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,300 per sq.ft would incur a stamp duty of Rs 91,000.